Vila Nova de Gaia

Promiris has entered into a new partnership, this time in the non-medicalised retirement home segment, with a leading European operator, the Domitys group.

In Vila Nova de Gaia (opposite the city of porto), the residence has 126 flats and around 1,300 sqm of living space (restaurants, wellness area, bar, lounge, swimming pool, etc.). The whole building totals approximately 10,500 sqm.

This is the Group's second location in Portugal as part of its growth strategy in Europe and particularly in Southern Europe. The Group will seek to open several locations in the country's major cities.

Domitys leases the property on a long term basis on a firm lease while participating alongside Promiris in the development and also opening up its own end investor base alongside the Promiris base.